Hydrocolloids Market To Be Valued at US$ 19,780.00 Mn By 2030 - Coherent Market Insights

Hydrocolloids are used to improve the quality and shelf-life of food products. The increasing popularity of convenience foods is directly impacting the demand for hydrocolloids. These products improve the viscosity and textural qualities of products, such as sauces and gravies. Food manufacturers often use hydrocolloids to increase shelf life and quality. They can enhance shelf life and improve the texture and viscosity of a variety of products. Hydrocolloids can also stabilize and emulsify food.

Market Statistics:

The Global Hydrocolloids Market is estimated to account for US$ 9,733.69 Mn in terms of value by the end of 2021.

Global Hydrocolloids Market: Drivers

Consumers are leading an increasingly active lifestyle, which is driving the demand for ready-to-eat foods. This in turn is driving the growth of hydrocolloid market. Moreover, hydrocolloids are essential ingredients for the production of many processed foods. They are used in foods to increase their nutritional value, and also improve the texture. This is again expected to lead to increased demand for hydrocolloids in the coming years, owing to their ease of availability and lower price compared to natural ingredients.

Global Hydrocolloids Market: Opportunities

Expanding food & beverage industry is creating demand for hydrocolloids expected to offer significant growth opportunities for key players in the near future. For instance, in July 2019, ISC Gums, a producer of hydrocolloids used in the food, beverage, and nutrition industry, has started a new manufacturing facility in Legnica, Poland. This facility will help the company to meet the high demand for food hydrocolloids from European and global customers

Global Hydrocolloids Market: Restraints

Fluctuating price of raw materials and limited consumers awareness are major factors expected to restrict the market growth.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/hydrocolloids-market-5298

Global Hydrocolloids Market - Impact of Coronavirus (Covid-19) Pandemic

COVID-19 has negatively affected various end-user industries of the market studied. The coronavirus outbreak has spread to nearly every country on the planet. COVID-19 is having an adverse effect on the global economy, disrupting industrial investments and activities at present. Additionally, the virus has hit parts of Asia, North America, Europe, and the Middle East, very hard. Some states or regions were under complete lockdown for a specified period. Most factories were running on very limited staffing or were even closed temporarily.

Key Takeaways:

The global hydrocolloids market was valued at US$ 9,733.69 Mn in 2021 and is forecast to reach a value of US$ 19,780.00 Mn by 2030 at a CAGR of 6.08% between 2022 and 2030.

Natural segment held dominant position in the global Hydrocolloids market in 2021, accounting for 93.01% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Global Hydrocolloids Market Trends:

Growing personal care and cosmetic industry due to changing fashion trends. Hydrocolloids are widely used in a cosmetic industry for manufacturing wide range skincare products. Also, increasing number of working women contributing to the rise in demand for cosmetic products. This in turn propelling growth of the hydrocolloids market.

Low-calorie food and beverage are growing in demand due to increasing health and wellness trend. Hydrocolloids is an excellent replacement of sugar in food and beverage products. Thus, growing demand for low-calorie food products among consumers due to changing lifestyle is propelling market growth.

 Global Hydrocolloids Market: Competitive Landscape   

ADM, AGARMEX SA DE CV, Ashland, Cargill, Incorporated, CP Kelco US Inc., Dupont, DSM, Fufeng Group, Ingredion Incorporated, NOREVO GmBh, Silvateam SPA, and Tate & Lyle

Global Hydrocolloids Market: Recent Developments

1. In March 2019, DSM has competed the increase of its share in Yantai Andre Pectin to 75%. Andre Pectin is Asia’s largest producer of apple and citrus pectin hydrocolloids for food, beverage and personal care applications.
2. In September 2019, Silvateam Spa and the German JRS Group formed a joint venture company JRS Silvateam Ingredients Srl. The JV  was  established  to  join  forces  in  the production  and  sales  of  pectin  and  texturizing systems as well as distribution of tara gum.